Posted by Jim on March 24, 1999 at 10:58:01:
Whenever a third person is involved, ie. Realtor, it is much harder to structure creative financing. Not that it cannot be done but because you have to teach or explain in detail the benefits which takes lots of time and creates undue problems.
Rule of thumb is when dealing with third parties you should try for the discount only, no terms. When dealing with the principle owner, you can try discount, terms, or both discount and terms. When dealing with third parties, the best probability is with ugly - rehab houses that you assign to investors. When dealing with the principle owner, you can buy both rehabs and pretty houses using terms and assign to owner occupants.
When we buy and sell houses on the Internet using Realtors, we buy rehabs to assign to investors. When we buy and sell houses on the Internet working with FSBO’s, we buy nice houses on terms (creatively) and sell to owner occupants.
I sincerely hope this has helped
P.S. I just noticed your e-mail to me and I apologize for the delay.